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Below are two views of the Holiday purse my sister Anne made for grand-daughter and grand-niece.
If you Gooogle "Santa Purse" you can find other versions and directions for making your own.
But basically all you do is buy a pre-made Santa hat, cut it in half horizontally, sew the bottom closed, add a lining inside if desired and sew the cut-off hat top (with pom-pom) just inside the open edge of the purse to make a flap closure. Handles or straps may be added as desired: my sister bought 2-inch wide fur trim, folded and sewed it in half lengthwise and sewed the ends into the purse for a long strap.